Club officials says although the cost of the development across more than 15 hectares of land is not finalised, it is expected to cost around a 'couple of hundred million pounds'.

The development is also expected to create 1,000 construction jobs and 1,000 jobs after it is completed.

The club plans to submit a planning application later this year with development starting in 2016. The hotel and convention centre could be finished by 2018 with the residential areas completed by 2021.

Concerns over the loss of car parking around the Madejski Stadium will be addressed by a multi-storey car park with the site having space for 750 cars.

There will also be a series of transport measures including subsidised public transport, shuttle bus services and a new public transport hub with links to the planned new Green Park station.

Convention centre with space for 5,000 delegates

At the heart of the development is the new convention centre and concert venue, called The International which will host up to 5,000 delegates.

This is described in the consultation proposal as "a world class convention centre with a bold ambition to enable Reading to compete on a world stage in hosting business conventions plus a host of live events, offering a viable alternative to London venues."

It will also hold an ice rink with space for 2,480 people and be connected to the Madejski stadium and hotel by a bridged walkway.

It will also have 102 serviced apartments.

The 630 new homes will be a mix of studio apartments, one and two bedroom apartments, three-bedroom family homes and four-bedroom townhouses. Anyone living there would have underground parking, while each block will have landscaped courtyards.

The club added they have already completed assessments on transport and public transport, ground conditions and ecology which have been added to the proposals. For instance the public parks will include water features to control the flow of rainwater to nearby streams.

The first public consultation is underway today. On Wednesday October 21 and Thursday October 22 they will be in Reading town hall between 2-6pm, then on Saturday October 24 the final session will be held at South Reading Community Centre on Northumberland Avenue between 10am-4pm.